Buyers for part of national chain
The REAL name will continue in real estate, even though the original network has gone into receivership.
Monday, March 19th 2001, 1:40PM
by Paul McBeth
The REAL name will continue in real estate, even though the original network has gone into receivership.
Receiver Kerryn Downey of KPMG said that some of the offices had been successfully sold to a small consortium of lawyers. Others had been wound up and one in Matamata had been sold to Bayleys Real Estate.
Lawyer-real estate network REAL was launched mid last year with the aim of challenging the traditional way of selling houses. It had opened 28 offices before going into receivership in early February.
Downey said there were still six REAL locations: two in Northland (Whangarei and Kerikeri), two in Auckland, one in Timaru and one in Dunedin. He said that the purchasers had bought the rights to the REAL name.